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The U.S. debt is an unsolvable crisis

MAY 11, 2018 | by Michael Granof | THE UNIVERSITY OF TEXAS AT AUSTIN

“… Current spending is a relatively small part of the problem. It is interest on borrowing that is driving the debt into the stratosphere. Large deficits force the government to borrow even more, thus increasing the debt. And an increase in the debt pushes interest costs even higher in a vicious cycle. How vicious? …”

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